In trading on Monday, shares of Truist Financial Corp’s Series I Non-Cumulative Perpetual Preferred Stock (Symbol: TFC.PRI) were yielding above the 6.5% mark based on its quarterly dividend (annualized to $1.5497), with shares changing hands as low as $23.80 on the day. This compares to an average yield of 6.48% in the “Financial” preferred stock category, according to Preferred Stock Channel. As of last close, TFC.PRI was trading at a 3.64% discount to its liquidation preference amount, versus the average discount of 8.00% in the “Financial” category. Investors should keep in mind that the shares are not cumulative, meaning that in the event of a missed payment, the company does not have to pay the balance of missed dividends to preferred shareholders before resuming a common dividend.
The chart below shows the one year performance of TFC.PRI shares, versus TFC:
Below is a dividend history chart for TFC.PRI, showing historical dividend payments on Truist Financial Corp’s Series I Non-Cumulative Perpetual Preferred Stock:
In Monday trading, Truist Financial Corp’s Series I Non-Cumulative Perpetual Preferred Stock (Symbol: TFC.PRI) is currently down about 1.2% on the day, while the common shares (Symbol: TFC) are up about 0.7%.
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